Property profile

430 Main Ave Norwalk, CT 06851

OFF-MARKET
Investment properties
Property ID
US15-0644754
34,583 SF 1.52 ac lot Built 1990
Entity Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This three-story, 34,583 square-foot retail and office building in Norwalk, CT, offers exceptional leasing opportunities. Located at a signalized intersection on Main Avenue, the property boasts 220 linear feet of frontage and two curb cuts, ensuring high visibility and accessibility. The 1.52-acre site provides 75 shared parking spaces for tenants and customers. Currently, three spaces are available: a divisible 2,380 square-foot retail unit (previously $35/RSF NNN, now $30/RSF NNN), and two second-floor office spaces, one at 1,100 square feet and another 950 square-foot unit (available January 2025). Both office spaces are leased at $25/RSF NNN (previously $27.27/RSF NNN). The building features prominent monument signage and additional signage along Main Avenue. This prime location is across from the revitalized Merritt 7 Corporate Park, near over 2,000 new apartments, and within easy reach of major roadways including the Merritt Parkway (Exit 40), Route 7 connector, and I-95. Nearby amenities include Walmart, Stop & Shop, LA Fitness, and several hotels. The minimum leasable space is 1,100 square feet, with a maximum contiguous space of 2,380 square feet. The building was constructed in 1992 and is zoned General Urban Corridor Community District (CD-3C). The building has 14 total suites. Currently, 3,480 square feet of space is vacant.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1990
Construction STEEL FRAME
Total area 34,583 SF
Lot 1.52 ac (66,059 SF)
Zoning code B2
APN NORW M:5 B:22B L:11
UPID US15-0644754

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Alternative Medicine Practice Spa & Massage Center
  • Association / Organization
  • Social Service Agency
  • Business Management Consultant
  • Alternative Medicine Practice Spa & Massage Center

Location

430 Main Ave Norwalk, CT 06851-7004
Norwalk metro Census 42700 BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$6.08M
CAP Approach CAP
by Request
Comparable Approach Comparable
$7.13M
Blend (final) Blend
$5.98M

Owner & transaction history

since 2023
Last sale
$6.0M
4 recorded transactions
2023
$6.0M
2008
$7.6M
2003
$4.2M
1988
$1.0M

Zoning & alternative use

B2 · Norwalk, CT
Top alternative use upside
Restaurant $8.9M +6.4%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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